COMPENSATION OF UP TO 2,000,000 AMD MONTHLY SALARY FOR ORGANIZATIONS ATTRACTING HIGH-SKILLED SPECIALISTS
The legislative reform package developed jointly by Investment Council of Armenia and the Ministry of Economy of the Republic of Armenia was adopted at recent session of the Government Armenia. The aim of the reform is to boost productivity of businesses mainly in two ways: to promote engagement of the high skilled professional on local labor market and to support research and development initiatives among science and business communities.
Who can apply?
Commercial and non-commercial organizations that have recruited high-skilled specialists during the 12 months prior to the time of application can apply for assistance. High-skilled specialist should have lived outside of Armenia for at least 12 of the 30 months prior to applying to the program and meet one of the following conditions:
- Graduated from one of the 400 leading universities according to the QS World University Rankings, published in the year of application for participation in the program, and received a bachelor's, master's and/or doctorate degree.
- Has at least 10 years of experience in any of the world's leading companies included in the Forbes, Fortune, HeadHunter, NIFTY, Dow Jones, FTSE, S&P, SE Composite, SZSE, KOSPI, KOSDAQ, SE SENSEX, NSE of India, WESPA, IBrX, ITEL, Nikkei, TOPIX, DAX, MDAX, MOEX Russia indexes.
Scales of state support
- In case of hiring a high-skilled specialist with a bachelor's degree, a master's degree, or someone with at least 10 years of experience from the leading foreign companies, the organization will be reimbursed 20% of the paid salary, but not more than 1,000,000 AMD ($2450) per month.
- In case of hiring a high-skilled specialist with Ph.D. degree from any of the top 400 universities of the QS World University Rankings, 50% of the paid salaries will be reimbursed to the organization, but not more than 1,500,000 AMD ($3700) per month.
- In case high-skilled specialists with Ph.D. degree from any of the top 400 QS World University Rankings will be teaching in any higher education institution of Armenia, the university will be reimbursed 70% of the salary, but not more than 2,000,000 AMD ($4900) per month.